A Major Explanation for the Decline in Employment Projected in Textiles

question 61

Multiple Choice

A major explanation for the decline in employment projected in textiles is

• A)increases in income.
• B)social problems in the U.S.
• C)shifts in production toward low-wage countries.
• D)inaccurate expectations about productivity growth.
• E) inaccurate expectations about the price level.

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Definitions:

Partnership Agreement

A formal arrangement between two or more parties to manage and operate a business and share its profits.

Secretary of the State

A high-ranking official typically responsible for keeping public records, administering elections, and managing the affairs of the state government.

S Corporation

A special form of corporation in the United States that allows for the income, losses, deductions, and credits to be passed directly to shareholders to avoid double taxation.

LLC

A Limited Liability Company, a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.